Wellington Management Group LLP Sells 196,071 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wellington Management Group LLP decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 820,319 shares of the bank’s stock after selling 196,071 shares during the quarter. Wellington Management Group LLP’s holdings in Huntington Bancshares were worth $13,347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its holdings in Huntington Bancshares by 4.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 241,792 shares of the bank’s stock worth $3,934,000 after acquiring an additional 10,765 shares during the period. Summit Securities Group LLC bought a new stake in shares of Huntington Bancshares in the fourth quarter worth about $703,000. Schroder Investment Management Group raised its holdings in Huntington Bancshares by 12.8% during the 4th quarter. Schroder Investment Management Group now owns 588,221 shares of the bank’s stock worth $9,606,000 after buying an additional 66,937 shares during the period. OneAscent Wealth Management LLC bought a new stake in shares of Huntington Bancshares during the fourth quarter worth $176,000. Finally, Allstate Corp acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth $699,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Friday, March 7th. Truist Financial raised their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler dropped their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.94.

Insiders Place Their Bets

In other news, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares in the company, valued at $731,237.50. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock valued at $1,631,151 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

HBAN stock opened at $13.71 on Thursday. The company has a market capitalization of $20.03 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The business has a 50-day simple moving average of $15.37 and a two-hundred day simple moving average of $16.07. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period last year, the business posted $0.27 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.52%. Huntington Bancshares’s payout ratio is 50.41%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.